Churchill Downs Incorporated (NASDAQ:CHDN) Holdings Lifted by Fmr LLC

FMR LLC raised its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,592,087 shares of the company's stock after purchasing an additional 214,694 shares during the quarter. FMR LLC owned 4.89% of Churchill Downs worth $479,687,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Churchill Downs by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock valued at $909,183,000 after acquiring an additional 107,737 shares during the last quarter. State Street Corp grew its holdings in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after purchasing an additional 114,018 shares during the last quarter. Boston Partners grew its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after buying an additional 366,283 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Churchill Downs by 5.4% in the fourth quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock valued at $201,223,000 after acquiring an additional 77,213 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Churchill Downs by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company's stock worth $174,917,000 after acquiring an additional 10,018 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CHDN shares. StockNews.com downgraded Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. Barclays initiated coverage on shares of Churchill Downs in a research note on Friday. They set an "overweight" rating and a $125.00 price target on the stock. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Mizuho lowered their target price on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.44.

Churchill Downs Trading Up 1.6 %

CHDN traded up $1.58 during midday trading on Tuesday, hitting $103.20. The company's stock had a trading volume of 123,067 shares, compared to its average volume of 503,744. The firm has a 50-day moving average price of $112.54 and a two-hundred day moving average price of $127.29. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 52-week low of $96.67 and a 52-week high of $150.21. The firm has a market cap of $7.58 billion, a P/E ratio of 18.17, a PEG ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $624.20 million for the quarter, compared to analysts' expectations of $620.21 million. On average, research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs's payout ratio is currently 7.04%.

Churchill Downs declared that its board has approved a share repurchase program on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.